Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of unusually large options trading activity on Wednesday. Investors purchased 11,027 call options on the company. This is an increase of approximately 3,078% compared to the typical daily volume of 347 call options.
Shares of NASDAQ:CARA traded up $0.37 during mid-day trading on Wednesday, hitting $17.47. 19,548 shares of the company traded hands, compared to its average volume of 410,125. The firm has a market cap of $870.57 million, a P/E ratio of -8.07 and a beta of 1.70. Cara Therapeutics has a 52-week low of $8.88 and a 52-week high of $19.13. The firm's 50 day simple moving average is $15.25 and its 200 day simple moving average is $15.40.
Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Saturday, November 14th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.25. Cara Therapeutics had a negative return on equity of 64.36% and a negative net margin of 360.35%. The business had revenue of $9.27 million for the quarter, compared to the consensus estimate of $4.98 million. On average, equities analysts expect that Cara Therapeutics will post -2.05 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on CARA. Zacks Investment Research lowered shares of Cara Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, December 22nd. BidaskClub cut shares of Cara Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday, December 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. The company has an average rating of "Buy" and a consensus target price of $30.80.
In other news, insider Scott Terrillion sold 1,946 shares of Cara Therapeutics stock in a transaction dated Wednesday, December 30th. The shares were sold at an average price of $15.30, for a total transaction of $29,773.80. Following the sale, the insider now owns 42,436 shares of the company's stock, valued at approximately $649,270.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher Posner sold 2,000 shares of Cara Therapeutics stock in a transaction dated Thursday, November 19th. The shares were sold at an average price of $15.82, for a total transaction of $31,640.00. Following the sale, the director now directly owns 11,200 shares in the company, valued at approximately $177,184. The disclosure for this sale can be found here. In the last three months, insiders sold 56,135 shares of company stock worth $872,800. Insiders own 5.70% of the company's stock.
Hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC grew its holdings in shares of Cara Therapeutics by 198.0% in the second quarter. Nuveen Asset Management LLC now owns 502,723 shares of the biopharmaceutical company's stock valued at $8,596,000 after acquiring an additional 334,015 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Cara Therapeutics during the 3rd quarter valued at approximately $2,091,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Cara Therapeutics during the 3rd quarter worth approximately $1,899,000. Goldman Sachs Group Inc. increased its stake in shares of Cara Therapeutics by 52.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 323,159 shares of the biopharmaceutical company's stock worth $5,526,000 after purchasing an additional 110,935 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Cara Therapeutics by 11.2% during the 2nd quarter. Bank of America Corp DE now owns 1,005,524 shares of the biopharmaceutical company's stock worth $17,195,000 after purchasing an additional 101,227 shares during the last quarter. Institutional investors own 67.01% of the company's stock.
About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells.
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